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Port-au-Prince.– After years of relentless organizing by a broad range of Haitian and international activists, the World Bank and International Monetary Fund (IMF) finally relented to pressure and cancelled Haiti's $1.2 billion debt, nearly two-thirds of the nation's debt.

"The debt cancellation is an important step forward, but only one part of an overall recovery plan that needs to include heavy emphasis on sustainability, especially when it comes to the agricultural sector," said Salena Tramel, Grassroots International Program Coordinator for Haiti and the Middle East.

"Grassroots International remains committed to working with our partners and allies in Haiti to create meaningful inroads to make this happen," she added.

For the tiny nation, debt cancellation means big relief. It frees resources to address the worst economic crises in this hemisphere. Last year, on top of already staggering poverty, Haiti experienced four hurricanes and ravages from the global food crisis.

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COMMENTS
9 comment(s)
Written by: FredCDobbs This user is banned, 25 Jul 2009 12:01 PM
From: Dominican Republic, Parque Colon statue of Anacaona
now there will be even more money to steal
Written by: Ricardolito, 25 Jul 2009 12:21 PM
From: Dominican Republic, calle A.Portes
This is good good news and i would like to know more about Grass roots ..if Haiti can rebuild and be a better place in which to live , then it is better for DR also
Written by: antonioj, 25 Jul 2009 12:54 PM
From: Canada, home safe
Most of that borrowing took place under papa doc and son
Written by: allumeuseGeneroso This user is banned, 25 Jul 2009 2:10 PM
From: Dominican Republic
This only gives permission for Haiti to borrow more money. The intrinsic behavior of consuming, corruption, and wrong investment will continue and several years from now Haiti will be in debt again.

No investment is done to motivate and spur essential means of production to Haiti. The demographic explosion is untamed (high demand). It is not the debt that hampers Haiti, it is Haiti's intrinsic behavior and poor attitude that it is putting them in that situation. I hope the internationals stop forgiving and instead should put pressure for Haiti to change! STOP EXPORTING YOUR MESS TO OTHERS!
Written by: Ricardolito, 25 Jul 2009 7:27 PM
From: Dominican Republic, calle A.Portes
You would obviously prefer them all to die ,,the DR has nothing to be too proud about with Domincans, on a percentage basis occupying more space in NY prisons than any race.. I am sure you do not help anyone , Dominican or Haitian because you have so much hatred in your blood
Written by: antonioj, 25 Jul 2009 7:44 PM
From: Canada, home safe
I wonder what is allumeuse aka greenwave opinion, do you support such bigotry ?

http://www.cnn.com/video/#/video/us/2009/07/24/hispanics.keep.out.WFAA
Written by: chillaxin201 This user is banned, 25 Jul 2009 8:18 PM
From: Dominican Republic, Boycott Dominican Tourism
what does the IMF and world bank get in exchange?
And did they actually think they where going to get paid? Fools
Written by: Ricardolito, 26 Jul 2009 5:37 PM
From: Dominican Republic, calle A.Portes
Haiti is not the only country to have their loans canceled , in fact they are about the last of the poor countries ..In Africa , many loans were canceled more than a year ago and in addition some individual developed countries have canceled various loans to poor countries ..I think the definition of foreign aid and a loan is often blurred.
Written by: Gracia, 31 Jul 2009 11:04 PM
From: United States
Well, Haiti's natural resources are what, Gold, Copper, Biofuell plant, coffee ext... If the US, Canada,France and other big boys did not continue to take so much of Haiti maybe it would be a richer nation. only about 30years ago the Good was side by side with the US dollar. There were vacation resorts and commercials in the US of how great of a vacation Haiti is. Tthey could not stand for that, so Nixon,Reagan, and the Bushes did what they did., and the world watched while lies were being told. Remember back in those days if you were a minority and your head and shoulders touch the sky, everyone is trying to bring you down even your own black's from other parts, instead of coming together. they would rather join the whites so they look better. the same crap that is happening here in the US. Black men with White women, how easily we forget were we come from. Black People will never Unite. They want to be mixed like OBAMA. PEACE
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